The Pantry Inc. (PTRY) a convenience store operator, is up on news of an upgrade today. The stock was previously rated neutral by analyst. The Pantry Inc. (PTRY) is up about 3.5% on news of an upgrade to “outperform” today. The Pantry Inc. is currently trading at $16.70, and has been trading in a range between $10.99-17.62. Year to date Pantry Inc. has underperformed the market as shares have fallen 1.01% year to date. Options traders seem to have a bullish perspective on The Pantry Inc, today as we saw a trader buy 1147 December 20 Calls for .95 cents. Traders are continuing to jump on board with this trade as volume has continued to increase throughout the day. The original order showed volume of 1,501 and volume has increased to 2,815. Looking at The Pantry on the Ichimoku cloud, it is currently trading above cloud. With the bullish order flow and the stock trading above the cloud, I believe The Pantry is setting up for long.
Trade: Buying the December 2014 20 Calls for .95
Risk: $95 for one lot
Reward: Unlimited